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Construction Bubble for New Homes in Colorado Springs?

by Alan T Daniels

Some people have been asking if there is a construction bubble for new homes in Colorado Springs.  If you are in the market to buy a new home in Colorado Springs and surrounding areas or know someone who is you may be asking yourself this question.  Is the pace of housing recovery unsustainable?  

Not according to Chief Economist of Realtor.com, Jonathan Smoke who explains: 

“The havoc during the last cycle was the result of building too many homes and of speculation fueled by loose credit. That’s the exact opposite of what we have today.”

We are still way below historic averages when looking at the number of housing starts over the last 30 years.  Especially when comparing the numbers of housing starts during the current recovery (2012 to now) to the massive numbers built during the run up to the housing bubble (2002-2006).

A housing start is defined as the number of permits issued for new construction units and we are comparing permits issued for single family housing starts for the most applicable comparison.

Now that we have seen the National comparison what is going on in El Paso County?  

  • Permits Issued in 2005 for El Paso County:  6,250
  • Permits Issued in 2015 for El Paso County:  2,939
  • Permits Issued in July 2005 for El Paso County: 517
  • Permits Issued in July 2016 for El Paso County: 299

Source: Census Bureau 

Bottom Line

New homes (permits issued) in El Paso County are going up at about half the rate they were running up to the housing bubble.  Builders can’t keep up with current demand making it an extremely good market to buy new or resale housing in.  

If you are looking for new homes in Colorado Springs, Monument, Fountain and surrounding areas it is important to consult with a Realtor who specializes in new home construction to look at a number of variables which will protect your investment.

Click Here to Search New Homes For Sale in Colorado Springs and Surrounding Areas

New Gleneagle Real Estate Website!

by Alan Daniels

Broadmoor Homes For Sale | Realtors

Checkout our new website for Gleneagle at GleneagleLiving.com!  This is a must visit site if you live in and around Gleneagle or if you plan on moving to the Gleneagle area.  We will continue to update it with new information and up to date market reports, so make sure to bookmark it for continued visits.  This site provides helpful Gleneagle information on the following topics:

  • Gleneagle Neighborhood Information.
  • Gleneagle Homes For Sale.
  • Gleneagle Townhomes, Condos, and Patio Homes for Sale.
  • The Daniels Team's Featured Listings In and Around Gleneagle.
  • Updated Gleneagle School Reports with Ratings, Test Scoring, Stats and More.
  • Gleneagle Home Values and Recent Home Sales In Gleneagle.
  • Gleneagle Demographics.
  • Gleneagle Climate.
  • Gleneagle Realtors - A Daniels Team Designated Market.
  • Neighborhood Specific Sites will be Coming Soon within Gleneagle for Chaparral Hills, Club Villa, Donala, Donala at Glen Eagle, Eagle Villas, Falcons Nest, Falcon View, Gleneagle, Muirfield, Paradise Villas, Struthers Ranch, Summer Glen, Sun Mesa, Sunrise Townhomes and Much More.
  • More to come!

Gleneagle Tax Hike

by Alan Daniels
google map to real pro systems
The Donala Water District made an investment in their long term water plans by passing a vote to raise Gleneagle property taxes via a mail-in ballot election, which was completed Tuesday.  The tax increase was easily passed with 67% of the vote.  This increase will add around $120 to the property taxes on a $300,000 Gleaneagle home for example.  Nothing that will hurt resale value on Gleaneagle Real Estate.

2007 Colorado Springs Parade of Homes

by Alan Daniels
It is that time of year again!  The Parade of Homes is in progress.  It started on August 17 and goes until September 2.  There are a total of 46 homes to view in the parade.  The most exciting homes to see are the 16 that are over 1 million dollars.  Do not let that stop you from viewing the other homes in the parade as well.  The main parade sites are The Black Forest Reserve and The Preserve at Walden.  Cordera has some homes that are grouped together, and the rest are scattered all around Colorado Springs, Manitou Springs, Monument, and Woodland Park.  The tickets are $10 for adults, and free if under 18 or over 65 years old.  Active military can get free tickets (see parade website below for details).  Enter to win a pool table from Backyards & Billiards if you get your ticket stamped at 25 of the parade homes. 
The parade is great for taking in design ideas, so bring your camera!  It is also a great way of seeing what the different builders can do.  If you are looking to build, make sure to contact your Realtor so they can help you find the best builder for your needs.
 
Some of the Home Locations:
Black Forest Reserve, The Preserve at Walden, Palomino Ranch Condos, The Vistas at Nor’wood, Cathedral Pines, Turkey Canyon Ranch, Black Forest, Manitou Springs (Fountain Creek Villas), Woodland Park, The Townes at Gold Hill Mesa, Wolf Ranch – Parkwood Neighborhood, Cordera, Broadmoor, Falcon, University Park, Springs Ranch, Northgate, and Peregrine – Tuscany Heights, The Gables, Grey Hawk, Falcon Terrace, Settlers Ranch, Latigo Creek, Star Ranch, Wildernest, Greenland Preserve, Haven at Cumbre Vista, Fairway Pines, Fountain Creek Villas, Palmer Divide, Eagle Wing Estates, Turkey Canon Ranch, Eastbrook

Displaying blog entries 1-4 of 4

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